F1 road close cause massive $$$ lost

[Porfirio Rubirosa]

I don't think it is billions. Perhaps $100m plus not sure whether this is after taking into consideration what OBS's private group had to stuff out. On balance I think this F1 gig may not be such a bad event for S'pore afterall, because you gotta look at the big picture branding image etc.

But throwing billions in what may only return tens of millions is a bad investment decision. And plus its only for a few days. What benefit is that?

After all, Malaysia has consistently lost money in F1 because their returns have not been enough to cover the billions spent in expenses. Do we need to have such a black hole for financial wastage?

 

[Porfirio Rubirosa]

I think the govt has bigger plans, not just a biz city but one of the most liveable attractive cities in the world which in turn attracts the richie riches of the world to park some of their mullah here and spend some time here over the year as well and also attract some of the world class creative and innovative types here to help create a world class KBE. Well that is the plan, now whether it all pans out remains to be seen.

I thought we are one of the most prominent business cities around the world? What happened to it, eh?

I mean, if the government opens up the private sector, puts in more investment into people, public infrastructure, public services like public transport, and in R& D, business people and ordinary citizens will benefit more, and in turn will tell their friends on how good Singapore is for both FDI and local companies, and entrepreneurship.

What happened to that man? I mean, does Google use banner ads on Yahoo to promote Google?

In the end, while style has some matter in tourism, substance matters most for a business city like Singapore. Our strength has always been in business; and so, to open up the market, putting in public investments on infrastructure and policies will help pay the costs for itself where there's more commerce between businesses themselves and to the consumers, locally and also overseas.

That's our strength; that's our substance. We should make ourselves better at our own strength and focus on it, rather than be a jack of all trades, and master at none.

 

[Porfirio Rubirosa]

Aiyah it is just 4 working days lah.

I understand the reason of having the race in the city area, 'cos it will generate high hotel occupancy rate & spending in shopping malls & restaurants, but to do it at the expense of the poor working class, I feel that it is rather insensitive. :(

A lot of inconvenience is created (now & in future) for the mass in order to cater to the rich's entertainment. Moreover it is going to be a regular event.

 

[Porfirio Rubirosa]

That is why this one is a night race and not at a track. Only Monaco appears to stand out in this manner.

Too many F1 staging locations will dilute the whole thing. F1 isn't just about in Asia; there are places around the world, in order to make the conditions different, and thus competitive.

And besides, if BKK has it, it would create a massive backlog of sorts and cannibalize the whole thing(it wouldn't be profitable in the long run). Besides, BKK, Sepang and Singapore are just too close to each other and located in the same SEA region.

 

[banova888]

And our pee a pee preach of good business opportunity for all sectors for the F1. With the city locked down just for the preparations, literally all business is at a standstill for this whole week. All the inconviences , who suffers really ?

Go ask the Beijiners who had to put up with the Beijing Olympics

 

[chupacabra]

I don't think it is billions. Perhaps $100m plus not sure whether this is after taking into consideration what OBS's private group had to stuff out. On balance I think this F1 gig may not be such a bad event for S'pore afterall, because you gotta look at the big picture branding image etc.

There is no bigger picture in the F1 here in SG at all. Longevity is the word and Sinkapore is known for hype and fads.

 

[chupacabra]

I think the govt has bigger plans, not just a biz city but one of the most liveable attractive cities in the world which in turn attracts the richie riches of the world to park some of their mullah here and spend some time here over the year as well and also attract some of the world class creative and innovative types here to help create a world class KBE. Well that is the plan, now whether it all pans out remains to be seen.

That is the plan for the last 20 years. Has it work? Yup it has to a certain extent. But the F1 and IRs could be seen as desperation and could backfire in terms of parking mullah here.

Sinkapore is trying to be jack of all trades but in the end it will be the master of non.

 

[troubledtimes]

The IR will be a massive dud as well. There wont be enough tourists and $100 as enterence fees will mean no locals will go as well, what to do, fuck spider!


BTW, can anyone remember Tang Dynasty, Malay Village, Haw Par Villa??? The perfect template for success.

 

[chupacabra]

Aiyah it is just 4 working days lah.

Remember "swing singapore". I think it generated much more business for orchard but look what happened to it and it was only for a day. I think 4 days total loss will be more than the gains .
Gone are the days where there were a large foreign expat crowd who spends money here. These days we only get the FTs who remit their money back and businesses rely heavily on locals to survive. Even places like Holland V is made up of al least 70 percent of local patrons.

 

[chupacabra]

That is why this one is a night race and not at a track. Only Monaco appears to stand out in this manner.

This is exactly like the reverse bungy thing, trying to be different but difference is overhype and overrated and overpriced. The night race will the same.

 

[Porfirio Rubirosa]

I hardly think the F1 franchise is a "hype or fad". But whether it turns out to be a success both in the short and long term remains to be seen.

There is no bigger picture in the F1 here in SG at all. Longevity is the word and Sinkapore is known for hype and fads.

 

[troubledtimes]

This is exactly like the reverse bungy thing, trying to be different but difference is overhype and overrated and overpriced. The night race will the same.

Who even goes to the reverse bungy thing?

 

[Porfirio Rubirosa]

Well I think the picture shall probably be clearer in the next 5 years one way or the other, and GE2011 shall be coming at the same time

That is the plan for the last 20 years. Has it work? Yup it has to a certain extent. But the F1 and IRs could be seen as desperation and could backfire in terms of parking mullah here.

Sinkapore is trying to be jack of all trades but in the end it will be the master of non.

 

[Porfirio Rubirosa]

Looks like you have not paid a visit to the IRs in Vegas In any the $100 entrance fee is peanuts to the local gamblers who visit Genting and the offshore floating casinos.

The IR will be a massive dud as well. There wont be enough tourists and $100 as enterence fees will mean no locals will go as well, what to do, fuck spider!


BTW, can anyone remember Tang Dynasty, Malay Village, Haw Par Villa??? The perfect template for success.

 

[Porfirio Rubirosa]

Perhaps but then who are keeping all those new malls and new cafes, bars, bistros and restaurants alive?

Remember "swing singapore". I think it generated much more business for orchard but look what happened to it and it was only for a day. I think 4 days total loss will be more than the gains .
Gone are the days where there were a large foreign expat crowd who spends money here. These days we only get the FTs who remit their money back and businesses rely heavily on locals to survive. Even places like Holland V is made up of al least 70 percent of local patrons.

 

[Porfirio Rubirosa]

I can appreciate your concern, even the Flyer looks uncertain. I guess we shall have to see, but I think this F1 expereince is perhaps different.

This is exactly like the reverse bungy thing, trying to be different but difference is overhype and overrated and overpriced. The night race will the same.

 

[troubledtimes]

Its not the money that matters, its the principle. Why isnt the entrance fees across the board, but aimed at Singaporeans only? Admittly, I have not been to the IRs in LV, but i have been to rather exclusive ones in France. In order to enter one of those, you have to be recommended as a member by a member. Dress code is always black tie evening, otherwise you cant enter. Unless there is that kind of standard, only then can the $100 fee can be justified, and only if that fee is imposed across the board.

 

[Zombie]

Looks like you have not paid a visit to the IRs in Vegas In any the $100 entrance fee is peanuts to the local gamblers who visit Genting and the offshore floating casinos.

the local gamblers get their entrance fees back in chip values
and the intention of IR here is not to encourage local gamblers

 

[troubledtimes]

and the intention of IR here is not to encourage local gamblers

What a joke man! Dont build it if you dont wanna encourage it. England did exactly just that. If you build a casino, ppl will have to gamble to make it viable. Its akin to opening a chicken rice stall and asking people not to eat there because chicken rice is fattening.

 

[chupacabra]

Perhaps but then who are keeping all those new malls and new cafes, bars, bistros and restaurants alive?

Who is actually surviving? I give you an example, Livebrandz who runs MOS closed down a number of its outlets at the cannery due to bad response. These outlets were unique from each other and centrally located yet they went bust. Why? Not enough $ to go around. Even MOS itself is not doing well. The IRs will only make the situation much worst and bring things beyond saturation. Too much of a good thing is actually bad for you.